[Expired] Chase Ultimate Rewards: 20% Transfer Bonus To Southwest Rapid Rewards (1:1.2)

Contents

1 The Offer
2 The Fine Print
3 Our Verdict

The Offer

Chase is offering a 20% transfer bonus when you transfer Chase UR points to Southwest Rapid Rewards points. The normal transfer rate is 1:1, this make it’s 1:1.2.

The Fine Print

Valid until 10/31/20

Our Verdict

Traditionally Chase hasn’t offered any transfer bonuses, but recently we’ve seen some from IHG & British Airways (Chase also has co-branded cards with these partners). At the moment it’s possible to cash out Chase UR points for 1.25-1.5¢ per point via the Pay Yourself Back feature. Southwest points are worth a base of 1.28¢ per point, but that doesn’t include the fees & taxes you don’t pay making them more valuable then this. Even at the base rate with this 20% bonus you’re getting 1.54¢ per point for a single Chase UR towards Southwest flights.

This could make transferring useful, personally think cashing out for 1.5¢ is still the better option. You can find a full list of previous and current Chase transfer bonuses by clicking here.

Hat tip to Frequent Miler

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10 Comments

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Josh (@guest_1079958)

October 27, 2020 11:54

#1079958

I enjoy booking with points > cash as it’s slightly more flexible (without having to worry about travel funds expiring on you!). When you cancel a flight with points, you can always get the taxes refunded to credit card. I often will book speculatively, which makes this useful. Also, when there’s a fare sale I will often rebook, and if you paid with cash you might get stuck with like a $20 travel voucher that you may or may not use.